Guideline Value

Corporate

Guideline Value for Vel Nagar 2nd Main Road

₹2750/sq.ft.

The guideline value for Vel Nagar 2nd Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹107 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹97 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vel Nagar 2nd Main Road

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Vel Nagar 2nd Main Road guideline value

The current guideline value of Vel Nagar 2nd Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Vel Nagar 2nd Main Road has changed

The guideline value for Vel Nagar 2nd Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 97 per sq.ft, which increased to Rs 107 per sq.ft in 2003. The value then rose significantly to Rs 400 per sq.ft in 2007, marking an increase of 274%. By 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial increase of 525% from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,735%. The register has no figure for the years not mentioned above.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Vel Nagar 2nd Main Road's 2024 figure below that median.

Stamp duty and registration fee for property in Vel Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vel Nagar 2nd Main Road?

The Sub Registrar Office that covers Vel Nagar 2nd Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Maduravoyal

The guideline value is a crucial factor during the registration of property transactions in Maduravoyal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vel Nagar 2nd Main Road?

The current guideline value of Vel Nagar 2nd Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 97 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2,735% over the years.

What is the land classification for Vel Nagar 2nd Main Road?

Vel Nagar 2nd Main Road is classified as Residential Class IV Type - I under the guideline value register.

What are the stamp duty and registration fees for property in Vel Nagar 2nd Main Road?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vel Nagar 2nd Main Road located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.